In 2009, in the face of a global economic crisis, the major economies of the world came together and acted in concert to ease monetary policy aggressively. Together with fiscal stimulus in the US and China, these policies helped to prevent the world from slipping into depression.
Ben Bernanke’s discussion of the Fed’s policy intentions in the press conference following the Federal Reserve meeting on June 19 was a shock to markets, with all asset classes around the world falling sharply in response.
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